The global satellite modem market is estimated to grow from US$ 403 million in 2021 to reach US$ 710 million by 2026; it is expected to grow at a CAGR of 12% from 2021 to 2026 according to Research and Markets.
The satellite modem market for MCPC modem is expected to grow at a higher CAGR from 2021 to 2026. The growth of this segment is attributed to the unparalleled channel efficiency offered by these modems, which is the core requirement of high-data-traffic applications, such as mobile communication, internet, and broadband services.
The satellite modem market for military and defense is expected to grow at the second-highest CAGR from 2021 to 2026 Satellite communication is used for multiple applications such as situational awareness, intelligence gathering, and border patrol in military & defense operations.
North America is estimated to account for the largest size of satellite modem market during the forecast period. The key factors driving the growth of the satellite modem market in North America are the demand for satellite communication-based maritime applications, need for high-speed networks, increased adoption of connected vessels, and presence of key industry players, including Comtech EF Data Corporation (US), Datum Systems (US), and ORBCOMM INC. (US). Furthermore, growing demand from US military and subsidies by US government for broadband internet service in rural parts of US is expected to boost demand for satellite modems in the region.
For more information on the report, Satellite Modem Market with COVID-19 Impact Analysis by Application, End-user Industry, Channel Type, Data Rate, Technology, & Geography go to: https://www.researchandmarkets.com/r/80olqc
